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Crude oil futures end higher on Friday

08 Aug 2026 Evaluate

Crude oil futures ended higher on Friday as uncertainty prevailed over a possible agreement between the United Sates and Iran to reopen the Strait of Hormuz. Middle East tensions flared again following attacks by the Iran-aligned Houthis on a military camp in Yemen and in Saudi Arabia, a major oil supplier.

Benchmark crude oil futures for September delivery increased by $0.89 or 1.15% to settle at $78.18 a barrel on the New York Mercantile Exchange. Brent crude for October delivery was up by $1.06 or 1.29% to settle at $83.55 a barrel on the New York Mercantile Exchange.